Anarock：2024年印度写字楼市场年度更新报告（英文版）（17页）.pdf

1、INDIA OFFICE MARKET UpdateCY 202423PAN INDIA INSIGHTSCITYINSIGHTSOUTLOOKINDIA Office Market Annual Update I CY 2024FOREWORDThe year 2024 marked a significant milestone for Indias office market across the top 7 cities,recording the highest net absorption since 2019.The market witnessed robust activit

2、y throughout the year,driven by strong occupier demand and strategic expansion plans of various sectors.A notable highlight was the net office absorption of nearly 50 Mn sf,with southern office markets leading the charge by capturing 55%of the total absorption,followed by western markets at 24%and N

3、CR at 19%.The market fundamentals strengthened considerably in 2024,with average office vacancies dropping to 16.5%from 17.8%in 2023,despite the substantial new supply addition of over 48.1 Mn sf.Among the top 7 cities,Chennai exhibited the strongest fundamentals with the lowest office vacancy of 9.

4、3%.The southern markets continued their dominant run,contributing 57%of the new supply(approx.27.7 Mn sf),while the western markets added 30%and NCR comprised 12%of the overall new supply.A significant transformation was observed in the occupier mix during 2024.The IT-ITeS sectors share in net offic

5、e absorption decreased to 28%from its earlier dominant position of 42%in 2019.However,this was effectively counterbalanced by the BFSI sectors expanded presence,growing from 7%to 17%,and the co-working sector maintaining a strong 21%share.The manufacturing sector also showed increased traction,growi

6、ng to 15%from 10%in 2019,indicating a broader diversification of office space demand.In terms of rental appreciation,southern markets outperformed other regions significantly.Bengaluru led with a 26%rental growth since 2019,reaching INR 93/sf/month,followed by Chennai at 25%(INR 75/sf/month)and Hyde